Stocks Plummet, Oil Soars Amid Iran Conflict

0:00It's March 27th. This is U.S. News Today, AI power stories from across the country. U.S. stocks plunged on Friday, hitting their lowest closes in more than six months across all three major indexes. Weakness and big tech names dragged everything down, as the ongoing Middle East conflict with Iran kept investors away from riskier bets. President Trump gave Iran 10 more days to reopen the Strait of Hormuz, threatening to destroy its energy facilities if they refuse. As follows, Iran's rejection of his peace proposals after the U.S. and Israel launched strikes last month. Secretary of State Marco Rubio assured everyone no ground troops would be needed, with the operation wrapping up in just a few weeks. All prices jumped anyway, with U.S. crude settling 5.46% higher at $99.64 a barrel, while, Brett rose 4.22% to $112.57. The Dow dropped over 800 points to enter correction territory, joining the NASDAQ and small cap

1:02Russell index already down 10% from, peaks. All indexes marked their fifth straight-weekly loss. Traders reacted with fear, pushing the VIX volatility gauge to its highest since early March. Software stocks and consumer names like Cruise Lines took heavy hits amid broader selling. Experts see a negative mood, but call it a potential buying chance, even if markets dip another 15 to 20%. Inflation worries from higher oil and commodity costs have killed hopes for Federal Reserve rate cuts this year, with some now betting on a possible hike by October. As the war drags on, markets brace for more uncertainty ahead.